Swedbank AB Sells 55,000 Shares of Installed Building Products, Inc. $IBP

Key Points

• Swedbank AB reduced its stake in Installed Building Products, Inc. by 15.4%, selling 55,000 shares in the second quarter, leaving it with 303,000 shares valued at approximately $54.6 million.
• Other institutions, including Vanguard Group and Eminence Capital, have also made significant changes to their investments in the company, indicating active interest from institutional investors.
• Installed Building Products announced a quarterly dividend of $0.37 per share, reflecting a dividend yield of 0.6%, with the payment scheduled for September 30th, 2023.

Swedbank AB lowered its position in shares of Installed Building Products, Inc. (NYSE:IBP - Free Report) by 15.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 303,000 shares of the construction company's stock after selling 55,000 shares during the quarter. Swedbank AB owned about 1.10% of Installed Building Products worth $54,637,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of IBP. Eminence Capital LP bought a new stake in Installed Building Products during the first quarter valued at $109,114,000. Timucuan Asset Management Inc. FL bought a new stake in Installed Building Products during the first quarter valued at $85,786,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Installed Building Products by 190.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 302,292 shares of the construction company's stock worth $51,831,000 after purchasing an additional 198,391 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of Installed Building Products by 1,897.8% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 177,800 shares of the construction company's stock worth $32,061,000 after purchasing an additional 168,900 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Installed Building Products by 35,416.8% during the 1st quarter. GAMMA Investing LLC now owns 169,060 shares of the construction company's stock worth $289,870,000 after purchasing an additional 168,584 shares in the last quarter. Institutional investors own 99.61% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Zelman & Associates raised shares of Installed Building Products from an "underperform" rating to a "neutral" rating in a research report on Friday, August 8th. DA Davidson lowered shares of Installed Building Products from a "buy" rating to a "hold" rating and increased their price objective for the company from $225.00 to $252.00 in a research note on Tuesday, August 12th. Zacks Research upgraded shares of Installed Building Products from a "strong sell" rating to a "hold" rating in a research note on Thursday, August 14th. Jefferies Financial Group increased their price objective on shares of Installed Building Products from $175.00 to $225.00 and gave the company a "hold" rating in a research note on Tuesday, August 12th. Finally, Royal Bank Of Canada reiterated an "underperform" rating and issued a $184.00 price objective (up previously from $145.00) on shares of Installed Building Products in a research note on Thursday, August 7th. Two research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, Installed Building Products currently has an average rating of "Hold" and a consensus target price of $217.36.

Insider Activity at Installed Building Products

In other news, insider William Jeffrey Hire sold 6,500 shares of the firm's stock in a transaction that occurred on Thursday, August 14th. The shares were sold at an average price of $265.71, for a total transaction of $1,727,115.00. Following the completion of the sale, the insider owned 37,999 shares in the company, valued at $10,096,714.29. This trade represents a 14.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Janet E. Jackson sold 1,469 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was sold at an average price of $266.00, for a total transaction of $390,754.00. Following the sale, the director owned 6,873 shares of the company's stock, valued at approximately $1,828,218. The trade was a 17.61% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,655 shares of company stock worth $3,123,578. 16.20% of the stock is currently owned by company insiders.

Installed Building Products Stock Performance

Shares of IBP stock traded down $3.34 during trading hours on Monday, hitting $256.29. 261,438 shares of the company were exchanged, compared to its average volume of 447,473. The firm has a fifty day simple moving average of $243.64 and a 200 day simple moving average of $196.19. The company has a current ratio of 2.85, a quick ratio of 2.31 and a debt-to-equity ratio of 1.27. Installed Building Products, Inc. has a 52-week low of $150.83 and a 52-week high of $280.00. The stock has a market capitalization of $7.00 billion, a price-to-earnings ratio of 28.51 and a beta of 1.76.

Installed Building Products (NYSE:IBP - Get Free Report) last issued its quarterly earnings results on Thursday, August 7th. The construction company reported $2.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.45 by $0.50. Installed Building Products had a net margin of 8.45% and a return on equity of 60.27%. The company had revenue of $760.30 million during the quarter, compared to analyst estimates of $711.37 million. During the same quarter last year, the business posted $2.84 EPS. Installed Building Products's quarterly revenue was up 3.1% compared to the same quarter last year. Research analysts predict that Installed Building Products, Inc. will post 10.66 earnings per share for the current fiscal year.

Installed Building Products Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.37 per share. The ex-dividend date is Monday, September 15th. This represents a $1.48 annualized dividend and a dividend yield of 0.6%. Installed Building Products's dividend payout ratio (DPR) is presently 16.46%.

Installed Building Products Profile

Installed Building Products, Inc, together with its subsidiaries, engages in the installation of insulation, waterproofing, fire-stopping, fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving and mirrors, and other products in the United States. It operates through Installation, Distribution, and Manufacturing operation segments.